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  • March 2023
  • Technical Note
  • HBS Case Collection

The Traits of Entrepreneurs

By: Jo Tango and Alys Ferragamo
  • Format:Print
  • | Language:English
  • | Pages:8
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Abstract

Entrepreneurship has the potential for extreme success but also comes with high risks. Given this risk-reward profile, we might wonder why individuals choose to become entrepreneurs. Are there personality traits that lead someone to become an entrepreneur? Can you predict entrepreneurial success? Although many questions still remain, there has been significant research on the “entrepreneurial personality.” This note provides an overview of the most frequently studied entrepreneurial traits, including the Big-5, need for achievement, locus of control, innovativeness, and risk tolerance. Where data exist, we chronicle what is correlated with a desire to be an entrepreneur and what is associated with actual success as an entrepreneur.

Keywords

Entrepreneur; Innovation; Personality; Personality Traits; Risk Preference; Big Five; Locus Of Control

Citation

Tango, Jo, and Alys Ferragamo. "The Traits of Entrepreneurs." Harvard Business School Technical Note 823-099, March 2023.
  • Educators

About The Author

Jo Tango

Entrepreneurial Management
→More Publications

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    The Entrepreneurial Manager: Spring 2023

    By: Christina Wallace and Jo Tango
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    SAFE Notes: An Introduction

    By: Álvaro Rodríguez Arregui and Jo Tango
    • August 2022 (Revised November 2022)
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    Altos Ventures (B)

    By: Jo Tango and Alys Ferragamo
More from the Authors
  • The Entrepreneurial Manager: Spring 2023 By: Christina Wallace and Jo Tango
  • SAFE Notes: An Introduction By: Álvaro Rodríguez Arregui and Jo Tango
  • Altos Ventures (B) By: Jo Tango and Alys Ferragamo
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